Accepting items for deposit is just routine – until something goes wrong. When
sending deposited items through for payment, your institution is warranting that
it gave the funds to the payee. Who is the item really payable to? What about
restrictive endorsements? Who can endorse when there are multiple payees? What
if no one endorses it, can it still be deposited? The answers to these
questions depend on the facts and circumstances of each item and the parties
involved, including the depository institution. This webinar will outline the
processes to avoid loss, mitigate risk, and examine the rights and liabilities
of the parties involved in acceptance, payment, and enforcement of negotiable
- Institution’s rights and responsibilities
when accepting items payable to natural persons, entities, and fiduciaries
- When an item should be rejected due to insufficient or unauthorized
- Laws that affect payment of negotiable instruments
- Recognizing when an item should not be paid
- When can stop payments
be placed and by whom?
- Risks associated with certain types of checks
- How understanding check hold options can minimize risk exposure
Mary-Lou Heighes, Compliance Plus, Inc.
Live and recorded webinar, handouts, quiz with answer key and training log are included.